OUT from the economic crisis a new term arises: Recessionista.

I am both jealous and impressed.

Jealous because I wish I had come up with that term, and impressed because it is a word that neatly summarises my thoughts.

Yes, there is a recession.

Yes, we'll watch our spending.

But this doesn't mean the party is over.

The recessionista is smart.

There is no need to forget about being fabulously fashionable. Just get creative.

The obvious thing to do is to buy only classics.

Who needs a bag that only lasts a season, like the ghastly purple/green/blue Bottega (a very rare misstep, in my opinion), when a classic will last a lifetime and more?

Consider sharing. Get a shopping BFF (best friend forever) with similar taste, and share everything.

Another way to scratch the shopping itch is to head to a sale.

Good sale shopping requires immense patience and a little research.

When you're window shopping, check out the prices and the style.

Is it better to shop online? Or can you find a friend who can get you a discount?

If not, wait for the sale.

But sale or not, know your own style. This is so that you don't waste money and time on anything you think is trendy but won't ever wear after it is out of the shop.

You'll need willpower too. If you already have too many bags (although, to be fair, is enough ever enough?), stay away from the bag section.

Train your shopping BFF to be firm. Let her hold on to your credit card if you have to.

You might already be in the checkout queue, reading this, at the Club 21 bazaar sale.

At 80 per cent off everything (and some even lower), this is one of the popular sales.

Great savings

I popped into the sale for - ahem - research, and popped out with a Marc Jacobs T-shirt and Comme des Garcons shirt, while my significant other hauled home $1,200 worth of bags to be given out as Christmas gifts (Marc Jacobs for all!).

Today is the last day of the sale, which ends at 8pm, but a Club 21 representative assured me that stocks will be replenished daily.

The sale is special this year for a reason - it's at the Pit Building, last used at the Formula One night race.

To get there, there is a complimentary shuttle at the bus stop opposite the Adelphi, starting from 10am.

There is no need to grab a cab, so that means more money saved.

Isn't it amazing when the recessionista is working it?

1 This Balenciaga dress will take you everywhere.

You can wear it with accessories and the look will be transformed.

I like that it is slightly conservative but still sexy. The dress is at $380 ($1,899 before).

Here, model Chew Tzeling teams it with a Dries Van Noten belt ($100) and the Ingrid bag from Marc Jacobs ($430).

2 Marni has a wonderful pair of heels, in a colour called Lipstick.

It is too fabulous to miss out. Considering that mass labels are selling heels at about $200, these are a steal at $155 (originally $700).

The Italian label - designed by Consuelo Castiglioni - is known for zesty colours and prints, and this pair of heels doesn't disappoint.

3 A Marc Jacobs bag is treasured and adored by fashionistas worldwide. This is his bowler bag made out of calf leather.

The colour is timeless and the shape is classic, so this bag will still be relevant in a few years.

It was $2,899, but now, it's $736.

4 This is ideal for the Christmas stocking.

For only $70 (originally $369), you can get this D&G wallet called Big Moose.

There are other under-$100 items at the sale worth looking at, but this wallet should make most young people happy.

And also, when was the last time you could buy anything from D&G for under $70?

5 Shoes are really the best things to buy at a sale.

Don't resist these Dries Van Noten. Firstly, it's whimsical and pretty.

Secondly, it looks trendy, so you can take them out every time you have a party.

And, it's at $180, when it was $900 before.

For that reason alone, you should dash over now.

This article was first published in The New Paper on Nov 9, 2008.